# Stablecoin Market Cap and Total Supply

> Stablecoin market cap as total circulating supply: every dollar stablecoin by coin and chain, the daily trend and the all-time high, each with a receipt.

Markdown copy of https://voltfincrypto.com/apps/stablecoin-market-cap

**Question:** How large is total stablecoin supply today, and how does it compare with its all-time high?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Stablecoins](https://voltfincrypto.com/topics/stablecoins)
- Chains: Multi-chain, Ethereum, Tron, Solana, BNB Chain, Base, Arbitrum
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Total stablecoin supply is the clearest single measure of how many dollars live on public chains. This dashboard adds up the circulating supply of every tracked stablecoin, read from each token contract at the last block of each day. It sets today's total against its all-time high.

For a dollar stablecoin, market cap and supply are nearly the same thing: each unit is meant to redeem for one dollar, so the dashboard counts units in circulation rather than multiplying by a traded price. Tokens an issuer has minted but still holds in its own treasury, and copies minted against tokens locked in a bridge, are left out so nothing is counted twice.

Read the headline figures first. The history chart shows whether supply is growing or shrinking; the breakdown shows which coins and chains the change came from. Euro stablecoins are shown on their own line, never added to the dollar total. Every figure opens a receipt with the blocks and reads behind it.

## Blueprint

### Now

Today's total, its recent change and its distance from the all-time high.

- **Total stablecoin supply** (USD): Circulating supply of every tracked dollar stablecoin across covered chains on the latest complete day, in dollars of peg.
- **Change, 30 days** (%): Today's total against the total thirty days earlier, over the same coins and chains.
- **All-time high** (USD): The largest daily total in the recorded history, named with the day it was reached.
- **Distance from the high** (%): How far today's total sits below the all-time high, or zero on a day that sets a new one.
- **Total supply over time** (USD): The daily total of dollar stablecoins over the selected period, with the all-time high marked on the line.

### Breakdown

Which coins and chains make up the total, and the euro line beside it.

- **Euro stablecoin supply** (EUR): Circulating supply of every tracked euro stablecoin on the latest day, in euros of peg, kept apart from the dollar total.
- **Stablecoins tracked** (count): Registered stablecoins with circulating supply on the latest day, each counted once across chains.
- **Share of supply by coin** (%): Each coin's share of total dollar stablecoin supply on the latest day; coins below a small share are grouped as other.
- **Supply by chain** (USD): Daily circulating supply of dollar stablecoins on each covered chain over the selected period, with bridged copies labelled and never added twice.
- **Coins in the total**: Each coin's issuer, peg, circulating supply, 30-day change and chains, with a receipt per row.

Filters: Period (Last 30 days, 90 days, one year or all history); Peg (US dollar or euro).

## How it will be measured

- Supply is each registered stablecoin contract's totalSupply() at the last block of each UTC day on every covered chain, scaled by the token's decimals.
- Circulating supply subtracts tokens held unissued in issuer treasury addresses and the escrow behind bridged copies, so a coin locked on one chain and minted on another counts once.
- Dollar and euro stablecoins are summed separately by peg; a day's total is published only once every covered chain has reported that day.
- The all-time high is the largest daily total in the recorded history, named with its date; the distance from it compares today's total with that high.
- Every figure carries a receipt: each chain's block number and hash, the contract reads that agreed and the time of the read.

## Data it needs

- `stablecoin_supply_global_daily` (published): Cross-chain native supply per stablecoin and peg per day, on the latest day every chain has reported.
- `stablecoin_supply_totals_daily` (published): Each chain's native stablecoin supply per peg per day, added up from the per-token rows, never mixing pegs or native and bridged supply.
- `stablecoin_supply_daily` (published): Native supply of each USD and EUR stablecoin on each covered chain at the chain's last block of each day, from totalSupply() reads, with bridged copies kept apart.
- `stablecoins` (published): Every tracked stablecoin contract: issuer, peg, chain, decimals and whether it is native or bridged.
- Source: totalSupply() of every registered stablecoin contract at the last block of each UTC day on each covered chain
- Source: balanceOf() of issuer treasury addresses that hold minted but unissued tokens, at the same blocks
- Source: Escrow balances behind bridged and omnichain copies, such as the USDT0 adapter on Ethereum
- Source: Tron TRC-20 and Solana SPL stablecoin supply, once their readers are added

## Questions

### What is the stablecoin market cap?

It is the total value of stablecoins in circulation. Because a dollar stablecoin is meant to be worth one dollar, its market cap is close to its circulating supply, so this dashboard reports the supply read from each token contract, in dollars of peg, rather than multiplying by a traded price.

### Why do stablecoin market cap figures disagree?

Totals differ in what they count: which coins are included, whether supply held in issuer treasuries is subtracted, whether bridged copies are added on top of the tokens locked behind them and which chains are covered. This dashboard states each of those choices and shows the reads behind its total.

### How many stablecoins exist?

Hundreds of tokens call themselves stablecoins, but most supply sits in a small number of large dollar coins. The registry behind this dashboard lists every tracked coin with its issuer, peg and chains; the coin table shows each one's share of the total.

### Does the total include euro stablecoins?

Euro stablecoins are tracked and shown on their own, in euros. They are never added to the dollar total, because adding two currencies without converting them would make the figure meaningless.

### What does a new all-time high in stablecoin supply mean?

It means issuers have issued more stablecoins than they redeemed, overall, than at any earlier point in the record. A fall below the high means net redemptions: holders returned more tokens to issuers than issuers sold.

## Glossary

- **Circulating supply**: Tokens held outside the issuer's own treasury: what users, exchanges and contracts actually hold. It excludes tokens minted in advance but not yet issued.
- **Native and bridged supply**: Native supply is minted by the issuer on that chain. A bridged copy is minted against tokens locked elsewhere, so counting both would count the same dollar twice.
- **Peg**: The currency a stablecoin is meant to track and redeem for one-to-one, such as the US dollar or the euro.

## Related apps

- [Stablecoin Market Share by Issuer](https://voltfincrypto.com/apps/stablecoin-market-share-by-issuer)
- [Stablecoin List Ranked by Circulating Supply](https://voltfincrypto.com/apps/stablecoin-list-by-circulating-supply)
- [USDT vs USDC Supply by Chain](https://voltfincrypto.com/apps/usdt-vs-usdc-supply-by-chain)
- [USDT and USDC Mint and Burn Tracker](https://voltfincrypto.com/apps/usdt-usdc-mint-burn-tracker)
- [Stablecoin Market Monthly Review](https://voltfincrypto.com/apps/stablecoin-monthly-review)
- [USDT on Tron: Supply and Daily Transfers](https://voltfincrypto.com/apps/usdt-on-tron)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F